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and the many officials at various stock exchanges, regulatory agencies and research institutes that have helped me to gather this information. Most of these sources are listed in Appendix F, along with country-specific information. Any inaccuracies or errors are, of course, entirely my own, and I would be grateful to have them pointed out. There has been a(More)
We study the role of underwriter compensation in mitigating conflicts of interest between companies going public and their investment bankers. Making the bank's compensation more sensitive to the issuer's valuation should reduce agency conflicts and thus underpricing. Consistent with this prediction, we show that contracting on higher commissions in U.K.(More)
and seminar participants at the 2002 Oxford Finance Symposium for helpful comments. All errors are my own. Abstract We study the role of underwriter compensation in mitigating conflicts of interest between companies going public and their investment bankers. Making the bank's compensation more sensitive to the issuer's valuation should reduce agency(More)
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